COLL 8.1.11 Initial Offers—QFC Retail Schemes

(1) During the initial offer period for a QFC retail scheme, units may only be issued at the initial price.

Note Initial offer and initial price are defined in the glossary.
(2) The length of the initial offer period must not be unreasonable, taking into account the characteristics of the scheme.
(3) The period of the initial offer comes to an end if the operator believes on reasonable grounds that the price that would reflect the current value of the scheme property would differ from the initial price by more than 2%.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)